Increase In New Jobless Claims Hits 7-Month High

From Holden:

I was on a 7-month high once, but that’s another story.

Bush Boom:

First-time claims rose by 7,000 to 336,000 in the week ending May 27. Excluding one week in mid-May when a government shutdown in Puerto Rico boosted claims, that’s the largest number of new claims in any week since the week of Oct. 15, in the wake of the devastating Gulf hurricanes. A Labor Department spokesman said last week’s initial claims were not impacted by the Puerto Rico shutdown, which has been resolved.


Meanwhile, the number of people collecting unemployment benefits rose by 19,000 to 2.43 million in the week ending May 20, the third increase in a row.